Summary of changes

Details of the changes are:

• IAS 19 - Employee contributions to defined benefit plans - a new project added to the IASB's agenda following discussions at the February 2013 meeting.  An exposure draft is expected in the first quarter of 2013
• Insurance contracts - target date for the publication of an exposure draft is now clarified as the second quarter of 2013 (previously first half of 2013)
• Rate regulated activities - Interim standard - the expected timing of an exposure draft for an interim IFRS on rate-regulation is now clarified as the second quarter of 2013 (previously first half of 2013)
• Rate regulated activities - Comprehensive project - a discussion paper is now expected in the fourth quarter of 2013 (previously third or fourth quarter of 2013)
• Annual improvements 2010-2012 cycle - finalised amendments arising from this cycle of annual improvements are now expected in the third quarter of 2013 (previously second quarter)
• IAS 41 - Bearer biological assets - an exposure draft is now expected in the second or third quarter of 2013 (previously second quarter)
• IAS 27 - Equity method in separate financial statements - timing of the issue of an exposure draft is now the second or third quarter of 2013 (previously second quarter)
• Post-implementation review of IFRS 3 - initiation of the review is now scheduled to commence in the second or third quarter of 2013 (previously first or second quarter)
• Conceptual Framework project - the work plan notes that a feedback statement from the recently held disclosure forum is expected to be published in the second quarter of 2013.

Due process documents expected before the end of the first quarter 2013

According to the plan, the following due process documents are expected to be issued by the end of the March 2013 (this includes those items already noted above in some cases):

Exposure drafts

• Financial instruments - Impairment
• IAS 19 - Employee contributions to defined benefit plans
• IAS 39/IFRS 9 - Novation of derivatives

Discussion papers

• Financial instruments - macro hedge accounting (may be second quarter)

Click for IASB work plan dated 25 February 2013 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.